/ By admin / Blog/ • • • • • • • • • • / 0 Comments

Parliamentary Committee on Trade and Industry Concludes Oversight Activities


The Parliamentary Committee on Trade and Industry, chaired by Hon. Veronica Kadie Sesay, who is also the President of the has concluded its oversight activities in the Western Area and the provinces in the Republic of Sierra Leone on Friday 21, June 2024.

During the oversight visits, the Chairperson revealed that the Committee was inquiring into the level of compliance with the agreements Parliament had ratified in favour of the visited entities and to also ascertain the achievements and positive contributions of these entities in the national economy that are impacting the lives of the people.

Key amongst Companies Visited are petroleum marketing companies, National Petroleum (NP), new entrant in the petroleum marketing in Sierra Leone, Aminata and Sons, at both its facilities at Cline Town and Kissy Dockyard. And All Petroleum Products (APP) now Eco Energy,



The Chairperson for the committee, Honourable Veronica Kadie Sesay said their visit to terminals of their key overnight priorities assigned to them by the House of Parliament in order to ensure that Oil Marketing Companies (OMCs) are ideally adhering to the importation, distribution, transportation and retailing of petroleum products accordingly with fair and competitive Business atmosphere among OMCs.

Honourable Veronica Kadie Sesay told managements of OMCs that Parliament is one of the highest decision-making bodies in the country that checkmates the excesses and examines the successes of various, investments in the country, noting that the Oversight’s assignment is not about witch-hunting, but to help streamline some of the strategy objectives of OMCs and to ensure they are operating within the scope and contest of what average Sierra Leoneans expect them to deliver.

At Bread Avenue, Wellington, the Committee observed that Sonoco is the parent company and under its purview are nine other companies, including Bread Avenue. It was revealed that Sonoco is a leading Guinean company operating in flour, and other businesses. The company is currently constructing flour mill at Cline Town that would supply four other countries and intends to provide employment for over six hundred people.

The Committee observed that Bread Avenue has restaurant and producing high quality bread. The Avenue, according to Management, would soon expand its operations to the West and Central Freetown.
Finally, at Miro Forestry and Timber products at Mile 91, the Committee observed that the company, after many years in planting trees of various species, is now at its production and processing of plywood of international standards. In addition, the company is also producing high quality utility or electricity poles and edge glued board.

 



Source link

/ By admin / Blog/ • • • • • • • • • • • • • / 0 Comments

Trader’s Council of Sierra Leone Welcomes Deputy Minister of Trade And Industry as Member


The Trader’s Council of Sierra Leone has extended its membership to the Deputy Minister of Trade and Industry, Fatmata Kargbo as an active member.

In a statement released by the Trade Council, it highlighted the proactive initiatives undertaken by the Ministry under the leadership of Minister Alpha Sesay, who has been instrumental in supporting traders and various sectors for national development and sustainable growth. It is on this premise that the Council extended membership to the Deputy Minister, aiming to collaborate closely in monitoring and providing advice where necessary.

Expressing her gratitude for the gesture, Deputy Minister Kargbo lauded the Council’s recognition of the Ministry’s efforts in line with President Bio’s agenda of effective governance and citizen-centered policies. She emphasized the President’s commitment to action, evident in efforts to uplift the nation.



Highlighting the importance of unity and collective support for the President’s vision, Kargbo underscored the Ministry’s dedication to realizing sustainable development goals and fostering inclusive growth.

She reiterated the Ministry’s commitment to engaging stakeholders in decision-making processes, emphasizing regular consultations with traders and an inclusive approach to policy implementation.

Assuring the traders of the Ministry’s alignment with the President’s transformative agenda, Kargbo emphasized ongoing efforts in human capital development and women’s empowerment, particularly in collaboration with First Lady Fatima Bio.

Regarding policy initiatives, Kargbo disclosed ongoing discussions on the review of wholesale and retail policies aimed at optimizing support for traders and enhancing the sales of goods and services nationwide.

She also mentioned ongoing discussions with the Trader’s Council executive regarding the Sewa Ground Market and the Ministry’s plans to construct high-quality markets in additional locations to better serve traders.

The Deputy Minister concluded by reaffirming the Ministry’s commitment to collaborative efforts with the Trader’s Council in realizing President Bio’s vision for a prosperous Sierra Leone.



Source link

/ By admin / Blog/ • • • • • • • • • • • • / 0 Comments

Rokel Commercial Bank Champions Intra-Africa Trade at Prestigious Trade Fair in Egypt


Rokel Commercial Bank, a leading financial institution in Sierra Leone, has been selected among prominent banks in Africa to participate in the intra-Africa Trade Fair in Egypt. With a comprehensive range of services, including personal and business banking, international banking, and electronic banking, the bank’s involvement underscores its commitment to fostering trade and investment within Africa.

As the renewable energy equipment market in Egypt reaches billions of dollars, Rokel Commercial Bank’s participation aligns with Egypt’s Integrated Sustainable Energy Strategy, aiming for a 42 percent share of renewable energy by 2035. By showcasing at the trade fair, the bank not only promotes its brand but also advocates for increased intra-Africa trade, encouraging economic cooperation and integration.

Furthermore, Rokel Commercial Bank actively supports initiatives like the African Continental Free Trade Area (AfCFTA), using the trade fair as a platform to discuss and enhance trade facilitation. The presence of high-level representatives emphasizes the bank’s dedication to fostering business opportunities and partnerships across the continent.



Participating in the event with over one thousand six hundred exhibitors from seventy countries, Rokel Commercial Bank seeks potential collaborations and network expansion. By aligning with the African Union’s vision for economic integration and the 2063 Africa Union Finance Charter, the bank reaffirms its commitment to contributing to Africa’s overall economic growth and development.

In essence, Rokel Commercial Bank’s presence at the intra-Africa Trade Fair underscores its active role in promoting economic cooperation, regional integration, and intra-African trade. Through participation, the bank aims to foster business opportunities, expand its network, and contribute to the growth and development of the African continent.



Source link

/ By admin / Blog/ • • • • • • • • • • • • / 0 Comments

Rokel Commercial Bank Receives Prestigious Accreditation from the International Trade Council


Rokel Commercial Bank in Sierra Leone has secured a notable milestone by obtaining accreditation from the esteemed International Trade Council (ITC).

As the latest addition to the league of accredited financial institutions, the bank now joins a globally recognized chamber of commerce committed to fostering international trade, dismantling trade barriers, and enhancing global commerce through education, networking, and pivotal business intelligence.

For numerous years, the ITC has been a leading advocate for market liberalization and equitable trade practices worldwide. The organization’s primary focus lies in promoting transparent, predictable, and multilaterally coordinated regulations while aiding members in navigating the complexities of international trade through streamlined processes and essential resources.

With local chapters established in 28 countries and a membership spanning 179 nations, the ITC’s influence encompasses government trade and investment agencies, Chamber of Commerce associations, and various business organizations. Widely regarded as a global trade advocacy powerhouse, the ITC’s impact has been palpable, creating job opportunities and enhancing living standards across the globe.

In an accreditation letter issued to Rokel Commercial Bank, signed by Nina Escarda from the organization’s Secretariat, the bank was certified for demonstrating compliance and acknowledgment as a member of the International Trade Council.

Expressing enthusiasm about the accreditation, Dr. Walton Ekundayo Gilpin, the Managing Director of Rokel Commercial Bank, highlighted the bank’s commitment to leveraging this achievement to make significant strides. Gilpin emphasized the potential for increased trade opportunities and expanded coverage, emphasizing the substantial win for Sierra Leone. He affirmed the bank’s dedication to becoming the preferred banking institution in the region.

The accreditation from the International Trade Council signifies a remarkable endorsement for Rokel Commercial Bank, reinforcing its position and signaling a new chapter in facilitating global trade and economic growth within Sierra Leone.



Source link